Accion New Mexico Arizona Colorado Nevada said July marked the third month in a row that it had issued more than $1 million in loans to new businesses.

During the month, Accion issued 113 microloans to a variety of New Mexico small businesses. The organization also said it had recently closing the largest loan in its 20-year history with the lending of $400,000 to a startup car wash in Santa Fe.

“July was a truly extraordinary month for Accion on many levels and these great achievements were a true team effort,” Accion Director of Lending Metta Smith said in a statement. “Accion continues to focus on microlending despite a growing number of loans being made over $100,000. Still, 80 percent of Accion’s loans this year average just under $10,000.”

Accion said there has been an increased demand for small business loans during the past few months. But the organization said its portfolio remains strong with a repayment rate of more than 94 percent so far in 2014.